Title
RESOLUTION OF SUPPORT FOR CENTER CITY HOUSING CORPORATION'S REQUEST TO THE STATE OF MINNESOTA FOR QUALIFYING MULTIFAMILY FUNDING AND A CONDITIONAL PRE-COMMITMENT OF $200,000 FISCAL YEAR 2024 FUNDING ALLOCATION TO THE CITY OF DULUTH FROM THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) FOR THE REDEVELOPMENT OF THE 70 UNIT NEW SAN MARCO APARTMENTS PROJECT.
Body
CITY PROPOSAL:
RESOLVED, that the City of Duluth hereby expresses its support for Center City Housing Corporation's request to Minnesota Housing Finance Agency (MHFA) for the allocation of low-income housing tax credits and/or other funding provided by MHFA, to rehabilitate a 70-unit multifamily apartment building currently serving chronically homeless and chemically dependent individuals in the Downtown neighborhood (the "Project").
BE IT FURTHER RESOLVED, that the proper City officials hereby approve a pre-commitment of Fiscal Year (FY) 2024 funds to be received by the City of Duluth as allocated by the Department of Housing and Urban Development (HUD) for rehabilitation of the Project. The award of $200,000 subject to the receipt thereof from HUD, and the Developer, Center City Housing Corporation, securing the necessary funding from MHFA and other funding sources and to the approval of a development agreement between the City and Developer thereof.
Statement of Purpose
STATEMENT OF PURPOSE: This resolution expresses the City Council's support of an application to be submitted to MHFA by Center City Housing Corporation (CCHC), for low-income housing tax credit and other Multifamily Consolidated RFP funding that may be awarded by MHFA for the rehabilitation of the New San Marco Apartments. The deadline for submission of the application to MHFA is July 13, 2023. MHFA intends to finalize funding decisions at their December 14, 2023 board meeting. Additionally, this resolution provides for a pre-commitment of a portion of the City's FY 2024 HUD allocation for rehabilitation of the New San M...
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